Spain Finance & Business - Thursday December 28 2006

Spain Finance & Business - Thursday December 28 2006
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By h.b. - Dec 28, 2006 - 8:17 AM

The Telef�nica Logo

The competitive mobile phone market in Spain

The Telecommunications Market Commission CMT, has given the green light to Orange clients in the Basque Country who want to move to the Euskaltel company. The two companies previously had a collaboration agreement which meant that clients were refused portability between them.
Meanwhile the newcomer on the mobile telephone block, Yoigo, has been forced to post an apology on its webpage, following delays in supplying phones to new clients.
Telefónica has announced that it will not be increasing any of its call prices on January 1, but be warned that the monthly line rental increases to 13 € 70.
Consumers organisation, FACUA, are preparing to denounce Movistar, after detecting that the company has been threatening clients who wanted to swap providers that they would be charged 150 € to leave the company.

Spain is to spend 10 billion € of money from European funding on Research and Development between now and 2013. It is a traditionally neglected area in Spain. The numbers come from the Ministry for the Economy.

The debt of Spanish companies is just under 1,000 billion €, double the level of five years ago. The number has been revealed by the Bank of Spain. In the last year alone, debt has risen by 212 billion. Analysts say much of the debt has come from greater investment.

100 Spanish fishing boats, out of a total number of 119, will be able to return to Moroccan waters from January. It follows the ratification of the new fishing agreement between the European Union and Rabat.

The Mutua Madrileña insurance company has purchased Autoclub Repsol for some 30 million €. One immediate change following the take over is that Autoclub Repsol will be renamed Mutua Autoclub.

The Euribor rate, used to calculate the mortgage payments for millions of borrowers, yesterday reached 4% - something which has not been seen since May 2002. The Euribor is calculated on a daily basis, and the rate at a year is the interest generally charged to lend from European banks. The monthly index is almost certainly going to rise again, for what will be the 15th consecutive month.

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